Holiday Spending Hangover?

With Christmas now over we’re getting ready to plan the next event in our holiday festivities – New Year’s. So let me ask you a question – with the shopping season over how’s your holiday bill? I love shopping during the holidays but that’s because I like spending money. It’s the one time of the year that I can easily fall into my old bad money habits and spend money carelessly – but I don’t.

Shopping without actually spending money

Actually I should say I do shop I just resist the urge to spend. I could very easily fall into old overspending habits with the lure of half off and 2 for 1 sales but instead I window shop. Yep I’m one of those people who cruise websites on Boxing Day to find the best sales on everything I want (but don’t need). I fill up my shopping cart and then I close my browser before checking out.

It gives me the sense of partaking in the tradition of after Christmas holiday sales, but it doesn’t cost me anything and avoids racking up hundreds of dollars in debt. So that’s how I get through the holidays with my bank account still intact.

What’s your holiday shopping strategy?

Are you one of those people who buy everything and more for everyone on your list? Or maybe you’re like me and don’t have more than two people on your list to buy for so the joy of holiday shopping is extremely concentrated. Did you ever wonder if your spending habits are a product of your lifestyle or maybe your shopping strategies are determined by your geographic location.

Yes I said it. Maybe your spending is based on where you live. I recently received an email from our friends at Credit Karma with some statistics on holiday shopping trends in the United States. Within the same week I also received a similar email from my good friends at LowestRates.ca with some very interesting facts about where Canadians spend their money during the holidays.

Let’s have a look shall we?!

When did you start your holiday shopping?

41% of Canadians start shopping before November a.k.a. they don’t wait for Black Friday.

Only 30% of Americans ages 25 to 44 shop in December.

I started my holiday shopping the second week of December. BF’s birthday is early December so that occupies most of our time at the beginning of the month.

How much did you spend on your holiday shopping this year?

Canadians spend an average of $1,810 during the holidays and $674 of that is on gifts.

Over 40% of Americans spent over $500 on the holidays this year.

I think I spent a total of $200 this year on the holidays. Here’s my breakdown: